Protect Your New Hampshire General Contracting Business with General Liability Insurance
Part of our guide to general contractors insurance in New Hampshire.
You need General Liability Insurance to protect your general contracting business in New Hampshire from third-party bodily injury, property damage, and advertising injury claims. General Liability Insurance is the foundational policy nearly every small business needs, covering claims that can devastate your business. In New Hampshire, severe ice storms and nor'easters causing roof damage and prolonged power outages, harsh winters with heavy snow increasing slip-and-fall and vehicle accident exposure, and tourism in the White Mountains creating seasonal liability spikes for outdoor businesses, all contribute to a high-risk environment for general contractors.
General Liability cost for general contractors in New Hampshire
Illustrative monthly general liability estimate for a small general contractor operation in New Hampshire. Actual pricing depends on revenue, payroll, coverage limits, claims history, and carrier. Get a personalized quote to see your real price.
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What General Liability Covers for General Contractors in New Hampshire
General Liability Insurance pays for third-party bodily injury, property damage, and advertising injury claims for general contractors in New Hampshire. This coverage handles claims such as a client slipping on a wet floor at a construction site in Manchester, or a visitor being injured by a falling object at a building site in Nashua. General Liability Insurance does not cover workers' compensation claims, which are covered by a separate policy. For example, if an employee is injured on the job, workers' compensation would cover their medical expenses and lost wages, while General Liability Insurance would cover claims from third parties, such as clients or visitors. General Liability Insurance also does not cover professional liability claims, such as errors or omissions in construction work, which are covered by a separate professional liability policy.
Do General Contractors in New Hampshire Need General Liability?
Nearly every commercial client, real estate developer, and lender requires general contractors to carry at least $1 million in general liability and workers' compensation insurance as a condition of signing any construction contract in New Hampshire. This requirement is typically non-negotiable, and general contractors who do not have this coverage may be unable to secure contracts or work with certain clients. While New Hampshire law does not require general contractors to have General Liability Insurance, the practical consequences of not having it can be severe. Without General Liability Insurance, general contractors may be personally liable for claims, which can lead to financial ruin. In contrast, having General Liability Insurance can protect general contractors from financial losses and reputational damage, allowing them to focus on their business and grow their operations.
A Real General Liability Claim a General Contractor Could Face
John, a general contractor in Concord, was working on a construction project when a passer-by was injured by a falling object from the building site. The passer-by sued John's company for $200,000 in damages. John's General Liability Insurance policy covered the claim, paying $150,000 in damages and $50,000 in legal fees. Without General Liability Insurance, John would have been personally liable for the claim, which could have led to financial ruin. The claim was triggered by John's decision to use a subcontractor who did not follow safety protocols, highlighting the importance of careful planning and risk management in construction projects. General Liability Insurance responded quickly to the claim, allowing John to focus on his business and minimize the disruption to his operations.
What General Liability Costs for General Contractors in New Hampshire
Estimated General Liability premiums for general contractors in New Hampshire range from $40-$110/month. The cost of General Liability Insurance is influenced by factors such as revenue, payroll, coverage limits, deductible, and claims history. For example, a general contractor with a high revenue and large payroll may pay more for General Liability Insurance than a smaller contractor. Additionally, contractors who work in high-risk industries, such as construction, may pay more for General Liability Insurance than those who work in lower-risk industries. In New Hampshire, the severe ice storms and nor'easters, harsh winters, and seasonal liability spikes for outdoor businesses all contribute to a higher risk environment, which can increase the cost of General Liability Insurance. However, by carefully managing risks and maintaining a good claims history, general contractors can lower their premiums and reduce their costs.
How to Get General Liability in New Hampshire
To get General Liability Insurance in New Hampshire, general contractors should gather information about their business, including revenue, payroll, and coverage limits. They should also research different insurance providers and compare quotes to find the best coverage for their needs. In cities like Manchester and Nashua, general contractors can work with local insurance agents to find the right policy. Bundling General Liability Insurance with other core policies, such as workers' compensation and commercial auto, can often lower the total cost. By getting a quote and comparing policies, general contractors can protect their business and minimize their risks. Get your quote today and ensure your business is protected from third-party bodily injury, property damage, and advertising injury claims.
Frequently asked questions
Will my General Liability premium jump after one claim?＋
Yes. After a claim, your premium may increase. However, the amount of the increase will depend on the severity of the claim and your overall claims history. If you have a good claims history and the claim was minor, the increase may be small. But if the claim was severe or you have a history of frequent claims, the increase could be significant.
Can I get a COI same-day for a client?＋
Yes. Many insurance providers offer same-day certificates of insurance (COI) for clients. However, this may depend on the provider and the specific policy. It's best to check with your insurance provider in advance to confirm their COI process and to ensure you can get a COI quickly if needed. Some providers may also offer online COI platforms, which can speed up the process and make it more convenient for you and your clients.
Does a sole proprietor need General Liability?＋
Yes. As a sole proprietor, you are personally liable for business claims, which can put your personal assets at risk. General Liability Insurance can protect you from financial losses and reputational damage, even if you don't have employees. In fact, many clients and landlords require sole proprietors to have General Liability Insurance as a condition of working with them. By having General Liability Insurance, you can protect your business and personal assets, and ensure you can continue to operate even if a claim is made against you.
What's not covered by General Liability?＋
General Liability Insurance does not cover workers' compensation claims, professional liability claims, or intentional acts. Workers' compensation claims are covered by a separate policy, while professional liability claims, such as errors or omissions in construction work, are covered by a separate professional liability policy. Intentional acts, such as deliberately causing harm to someone or something, are not covered by General Liability Insurance or any other type of insurance.
Can I cancel my General Liability policy at any time?＋
Yes. You can typically cancel your General Liability policy at any time, but you may be subject to a penalty or fee. It's best to check your policy terms and conditions to understand the cancellation process and any potential fees. Additionally, if you cancel your policy, you may be leaving your business exposed to risks, which could lead to financial losses and reputational damage.
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Other coverages general contractors in New Hampshire should know
This article is for general educational purposes and is not insurance or legal advice. Coverage requirements and pricing in New Hampshire change over time and vary by business. Verify current rules with the New Hampshire Department of Insurance and a licensed agent before purchasing a policy.